| Ticker: HMAR | 2200 Eller Drive, P.O. Box 13038 | |
| Exchange: NASDAQ-National Market | Fort Lauderdale, Florida 33316 | |
| Industry: Transportation | (954) 523-2200 |
| Type of Shares: | Class A Common Shares | Filing Date: | 5/13/96 | |
| U.S. Shares: | 7,000,000 | Offer Date: | 8/9/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 7,000,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $91,000,000 | Selling: | $0.50 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 10,769,230 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Howard, Weil, Labouisse, Friedrichs | Co-manager | (504) 582-2500 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $70.56 | $20.21 | $15.78 | Assets: | $154.02 |
| Net Income: | -$0.36 | -$0.04 | -$0.61 | Liabilities: | $140.22 |
| EPS: | -$0.14 | -$0.01 | -$0.24 | Equity: | $13.80 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides marine support and transportation services primarily in the U.S. domestic trade and principally to the energy and chemical industries. The company is the third largest operator of supply and crewboats in the Gulf of Mexico. In addition, the company is the sole provider of commercial tug services in Port Everglades and Port Canaveral, Florida, and a leading provider of such services in Mobile, Alabama. The company also transports petroleum products and specialty chemicals in the U.S. domestic trade, a market insulated from international competition under the Jones Act. The total capacity of the company's five chemical carriers, proforma for the Acquisitions, represents approximately 44% of the capacity of the domestic specialty chemical carrier fleet. In addition, the company has options to acquire up to a 75% interest in five double-hull petroleum product carriers currently under construction for delivery during 1998. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the purchase price of the Acquisitions, to repay a portion of the company's indebtedness, and for general corporate purposes. |
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